Latest news with #financialrules
BreakingNews.ie
3 days ago
- Business
- BreakingNews.ie
We'll talk once there's a ruling – Khaldoon Al Mubarak on Man City charges
Manchester City chairman Khaldoon Al Mubarak says everyone connected to the club has to remain 'patient' as they await a decision on more than 100 charges laid by the Premier League. City were referred to an independent commission in February 2023 over alleged breaches of league financial rules, which City strenuously deny. Advertisement The commission heard the case between September and December last year but no outcome has yet been announced. Khaldoon was asked about the charges during an in-house interview earlier this week, and said: 'Well, I suppose the only thing I can say is we still don't have a ruling. Club statement — Manchester City (@ManCity) February 6, 2023 'Once there's a ruling, I'll be able to speak about it. Until then we just have to be patient, and it'll come, and we will talk about it, I promise you, once we have the ruling.' The investigation which ultimately resulted in more than 100 charges being laid started back in 2018. Advertisement City were charged with failing to report accurate financial information for nine seasons stretching from 2009-10 to 2017-18, as well as failing to provide full details of former manager Roberto Mancini's pay between 2009-10 and 2012-13. They are also charged with failing to provide full details of remuneration in contracts with players between 2010-11 and 2015-16, and with failing to co-operate with the investigation over a period from 2018 to 2023. The club said at the time the charges were laid that they welcomed the opportunity for a commission 'to impartially consider the comprehensive body of irrefutable evidence that exists in support of our position'. City won the Champions League at the end of the season the charges were laid in, securing themselves a place in FIFA's expanded 32-team Club World Cup which starts next month. Advertisement World players' union FIFPRO has criticised the scheduling of the competition amid player welfare concerns and, along with Europe's domestic leagues organisation, has filed legal complaints against FIFA over a lack of consultation around the international match calendar. Manchester City's 2023 Champions League success secured their place in the Club World Cup this summer (Martin Rickett/PA) Despite that, Khaldoon insists the club are taking the competition seriously and treating it as the official start of next season rather than an extension of the current one. 'This is a very, very serious competition. In the summer, the whole world will be watching this,' he said. 'A big number of the top teams in the world will be competing in this tournament and I can assure you, we're going to give it our best shot. We're going there to win it. Advertisement 'This is the beginning of the new season, not the continuation of last season. The team will take the rest that they will take right now, then they start pre-season and then immediately straight into the Club World Cup.'
The Independent
3 days ago
- Business
- The Independent
We'll talk once there's a ruling – Khaldoon Al Mubarak on Man City charges
Manchester City chairman Khaldoon Al Mubarak says everyone connected to the club has to remain 'patient' as they await a decision on more than 100 charges laid by the Premier League. City were referred to an independent commission in February 2023 over alleged breaches of league financial rules, which City strenuously deny. The commission heard the case between September and December last year but no outcome has yet been announced. Khaldoon was asked about the charges during an in-house interview earlier this week, and said: 'Well, I suppose the only thing I can say is we still don't have a ruling. 'Once there's a ruling, I'll be able to speak about it. Until then we just have to be patient, and it'll come, and we will talk about it, I promise you, once we have the ruling.' The investigation which ultimately resulted in more than 100 charges being laid started back in 2018. City were charged with failing to report accurate financial information for nine seasons stretching from 2009-10 to 2017-18, as well as failing to provide full details of former manager Roberto Mancini's pay between 2009-10 and 2012-13. They are also charged with failing to provide full details of remuneration in contracts with players between 2010-11 and 2015-16, and with failing to co-operate with the investigation over a period from 2018 to 2023. The club said at the time the charges were laid that they welcomed the opportunity for a commission 'to impartially consider the comprehensive body of irrefutable evidence that exists in support of our position'. City won the Champions League at the end of the season the charges were laid in, securing themselves a place in FIFA's expanded 32-team Club World Cup which starts next month. World players' union FIFPRO has criticised the scheduling of the competition amid player welfare concerns and, along with Europe's domestic leagues organisation, has filed legal complaints against FIFA over a lack of consultation around the international match calendar. Despite that, Khaldoon insists the club are taking the competition seriously and treating it as the official start of next season rather than an extension of the current one. 'This is a very, very serious competition. In the summer, the whole world will be watching this,' he said. 'A big number of the top teams in the world will be competing in this tournament and I can assure you, we're going to give it our bestshot. We're going there to win it. 'This is the beginning of the new season, not the continuation of last season. The team will take the rest that they will take right now, then they start pre-season and then immediately straight into the Club World Cup.'
BBC News
20-05-2025
- Business
- BBC News
Foxes set for more challenging PSR battle
On Leicester City's referral to an independent commission after being charged with an alleged breach of the EFL's financial rules, football finance expert Kieran Maguire said: "It does look as if the Premier League will now pursue a commission for an alleged PSR breach for the three years ended 30 June 2024."The EFL could, separately, pursue a similar case against Leicester for the three years ended 30 June 2025 should Leicester's financial results end up exceeding the EFL PSR limit, which will be £83m over that period."Leicester and Bournemouth have previously been found guilty of breaches of EFL PSR rules after they were promoted to the Premier League, and in both cases were given fines."Had Leicester accepted a points deduction at the start of the season in relation to historic breaches it would not have made much difference to their relegation battle, although they would have potentially finished 19th instead of 18th and received £3m less prize money from the Premier League."While the Premier League and EFL are in dispute over financial distribution, their willingness to co-operate more in terms of the rules and regulations relating to promoted and relegated clubs will make it more difficult for Leicester to avoid charges by either organisation."
Associated Press
20-05-2025
- Business
- Associated Press
Relegated Leicester referred to independent commission for financial breaches
LEICESTER, England (AP) — Leicester might be returning to life in the Championship with a points deduction. The club was referred by the Premier League to an independent commission on Tuesday for alleged breaches of financial rules in the English Football League — the three divisions below the top flight — in the 2023-24 season. Leicester also has been accused by the Premier League of alleged breaches of its obligation to provide its annual accounts by Dec. 31 last year and to 'provide full, complete and prompt assistance to the Premier League in response to the league's inquiries.' The Premier League has acted after an arbitration tribunal decided that the top-flight competition has jurisdiction to investigate and refer the club to an independent commission for its breaches of rules in a different competition — the EFL. The Premier League previously charged Leicester for breaching financial regulations by overspending in the 2022-23 season, but the club successfully argued it was no longer a representative of the Premier League — owing to its relegation that season — by the end of that year's accounting period on June 30. Because of this latest tribunal decision, the Premier League is trying again to punish Leicester for overspending, this time in the 2023-24 season — the year after relegation and when the team was in the Championship. 'The tribunal confirmed that the Premier League has the power to investigate an alleged breach of the Profit & Sustainability Rules because the EFL validly transferred responsibility for its investigation to the Premier League in June 2024, when the club was promoted from the Championship,' the Premier League said. 'The Premier League continues to have jurisdiction even though Leicester City will be relegated to the Championship at the end of this season.' Leicester's return to the Championship was confirmed on April 20 with a loss to Liverpool. 'The club intends to engage cooperatively in this matter now that the Premier League's jurisdiction has been established for the period ending FY24,' Leicester said. 'However, we will not be able to comment further on these proceedings until they are concluded, due to their confidential nature.' ___ AP soccer:
BBC News
20-05-2025
- Business
- BBC News
Leicester referred over alleged EFL financial breach
Leicester City have been referred to an independent commission by the Premier League for an alleged breach of EFL financial rules while they were in the Championship in the 2023-24 season.A tribunal also upheld a decision that the Premier League could not punish the Foxes for breaching Premier League profit and sustainability rules for the 2022-23 season as the club had been relegated from the top flight at the end of that the same tribunal decided that the Premier League does have jurisdiction to investigate the club for breaching EFL rules in independent commission will also assess two further alleged breaches by the Foxes; that they failed to provide accounts to the Premier League by 31 December, 2024, and that they did not "provide full, complete and prompt assistance to the Premier League in response to the league's inquiries".Leicester, who this season have been relegated to the Championship for the second time in three years, said: "The club intends to engage co-operatively in this matter now that the Premier League's jurisdiction has been established for the period ending FY24 (financial year 2024)." More to follow.
